GST is now a reality. With July 1 approaching, businesses have sped up the changes in their functions and processes. GST is entirely different from the existing complex structure of a dozen taxes. GST will subsume many of these taxes and will be a uniform tax system across the country. This breakthrough restructuring needs setup and skill from both sides, the ERP implementing partner and businesses.
GST and ERP
ERP is not just an accounting system. It is everything – from manufacturing to sales to marketing to customer service. Businesses now find it difficult to go without ERP for even a day. With the new GST law on the way, business owners will now have to integrate the new taxation system in the form of GST with their existing ERP system.
Many industries in the country have already switched or are in progress of switching to Global ERP platform-Microsoft Dynamics ERP. For many of them, implementing the new ERP system was a struggle as their people were not ready for this big change in their working style. Much training and involvement by the partners were required to make them accustomed with this change. While there were few hurdles, the thrust and positivity of top management led to the success of the system.
GST impact on SMEs
Big organizations might already have their plans made as they have abundant resources to help them. This change will be an issue for SMEs as they lack resources – IT, finances and people to guide them through. Furthermore, clarity issue is adding anxiousness and confusion. For implementing GST in the business, adoption of digital technology seems imperative. Before SMEs could adopt GST, they need proper IT hardware and software infrastructure. Keeping cost proposition in mind, adoption is going to prove costlier to them. Intech’s aim is to make your businesses GST Ready with affordable pricing and minimal efforts.
Intech is ready with GST roll-out in Microsoft Dynamics ERP. To make GST transition successful and smooth for our customers, we conducted GST readiness seminars for them. We’re also conducting an event on ‘GST Readiness with Microsoft Dynamics ERP’ to make these SMEs aware about GST, its implications and how adopting ERP will make their lives simpler.
How you should be ready for GST? Which business processes need changes? How Microsoft Dynamics ERP will help you in smooth transitioning to GST? Have any such GST related questions? We’ve answers. Just let us know.